define business explain its characteristics
Answers
Answer:
A business is the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society's needs. There are three key characteristics that must be met to have a business: First, businesses must be the result of individuals working together in an organized way.
Explanation:
Characteristics of Business 1 Economic Activity: Business is an economic activity, as it is conducted with the primary objective of earning money, i.e. for an economic motive. 2 Production/purchase of goods and services: Goods and services are produced or procured by business entities, so as to add value and sell them to the consumer. ... 3 Selling of goods and services: Business must involve the transfer of goods to the customer for value, through selling, meaning that if the goods are acquired for personal consumption,
Answer:
business is defined as an organization or enterprising entity engaged in commercial,industrial,or proffesional activities.......
some characteristics of business are:
1)economic activity:business is an economic activity of production and distribution of goods and services.
2)buying and selling.
3)continuous process.
4)profit motive.
5)risk and uncertainties.
6)creative and dynamic.
7)customer satisfaction.
8)social activity.
9)government control...
Explanation:
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